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mortgage and switching banks

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Hi, I have a business bank account with Lloyds and also have my home mortgage through them.
I am thinking of switching my business account as I can get a deal I believe would be better for my business from elsewhere.
My mortgage deal ran out 5 years ago so I was switched to the standard variable.
The rate I get now is far lower than any mortgage I could replace it with so I am just sticking with it until the day the rates rise.
Could I face any problems with my mortgage if I take my business account away from Lloyds bearing in mind I will no longer have any accounts with them.
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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    There's no reason to believe so. The two transactions are totally unrelated.
  • audievo
    audievo Posts: 13 Forumite
    thank you. just a bit worried that if I take my business banking away from them they will somehow take offence and it will have some effect on my mortgage as my "deal" ran out some years.
    My worry is that as I am not on any deal they could ask me to leave and get a mortgage elsewhere.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    There's no sentiment in business. Hopefully the business side of LLoyds will make some attempt to retain your business. Though that depends on your profitability to them. As that's the key driver of customer retention. There's no sentiment in finance.
  • audievo
    audievo Posts: 13 Forumite
    I would imagine I am quite profitable to them, I have quite a lot of money in the account and receive zero interest.
    I have been with them 20 years and always got on well with them.
    It seems my new business relations manager however doesn't like me much because I complained that in the year since she took over I have only managed to see her once for 3 minutes.
    Also when I tried to negotiate a better deal on my charges she told me if I didn't like it I should go elsewhere.
    Im sure retentions will have something to say however by then I will be gone.
    Never mind, trying Santander today, see how that goes
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    audievo wrote: »
    I would imagine I am quite profitable to them, I have quite a lot of money in the account and receive zero interest.

    As a business account. There'll be looking for customers that borrow money. As there's where the profit is really made.
  • audievo
    audievo Posts: 13 Forumite
    of course I understand that however they must make money of high credit accounts, surely that's where the money comes from to lend to borrowers.
    If my money is gone that is less available for them to lend out.
  • Lloyds_Bank
    Lloyds_Bank Posts: 377 Organisation Representative
    audievo wrote: »
    Hi, I have a business bank account with Lloyds and also have my home mortgage through them.
    I am thinking of switching my business account as I can get a deal I believe would be better for my business from elsewhere.
    My mortgage deal ran out 5 years ago so I was switched to the standard variable.
    The rate I get now is far lower than any mortgage I could replace it with so I am just sticking with it until the day the rates rise.
    Could I face any problems with my mortgage if I take my business account away from Lloyds bearing in mind I will no longer have any accounts with them.

    Hi audievo. I'm sorry to hear you're thinking of closing your business account. If you were to close it, your mortgage would remain unaffected.

    Thanks,

    James
    Official Company Representative
    I am the official company representative of Lloyds Bank. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE[FONT=&quot].

    [/FONT]The information I have provided in this post is correct as at the date of posting."
  • audievo
    audievo Posts: 13 Forumite
    James, thank you for that reassuring reply.
    Yes it is a shame and not something I am doing lightly.
    I have had a business account with you for around 20 years and personal accounts with Lloyds/tsb even longer (although my personal accounts have been switched to tsb)
    It seems inevitable now though as I have tried in vain for the last two weeks to sort it.
    thanks again
  • amnblog
    amnblog Posts: 12,728 Forumite
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    Let's not pretend they would even notice you have the two product ranges.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
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    audievo wrote: »
    thank you. just a bit worried that if I take my business banking away from them they will somehow take offence and it will have some effect on my mortgage as my "deal" ran out some years.
    My worry is that as I am not on any deal they could ask me to leave and get a mortgage elsewhere.
    They may well take offence. They may see you as a less valuable mortgage customer. So they may, for example, not offer you such a good deal if you wanted to arrange a new rate.
    But your original mortgage deal would have included the terms of the rate (SVR, or whatever) that you would go onto after the deal period had ended. They can't just tear up that agreement because they don't like the fact that you took your business account elsewhere.

    Given that you don't seem to be wanting a new deal from them I see no difference to your mortgage in you keeping the business account or not.
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